In the book chapter "Fading small speculators and other half$-$baked schemes", the author says the following about large speculators.

"Their market activities are purely profit motivated, so if they are holding more short than long positions in net, you could say that as a group, the funds are bearish."

Based on the statement above, $($i$)$ explain why it is true and then $($b$)$ discuss how you would change it in order to state that funds are bullish.